Which of the Following Are Characteristics of Process Cost Systems

question 56

Multiple Choice

Which of the following are characteristics of process cost systems?

• A)They used by companies that mass-produce similar products in a continuous fashion.
• B)They are best utilized when tracking costs by department are not important.
• C)They are focused on tracking job cost information.
• D)They help determine inventory amounts but not cost of goods.

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Definitions:

Positive Correlation

A relationship between two variables in which both variables move in the same direction.

Decreases

Refers to a reduction or decline in the magnitude or value of a certain variable or quantity.

Decreases

A term indicating a reduction or decline in value, quantity, or extent.

Correlation Coefficients

Statistical measures that indicate the strength and direction of the relationship between two or more variables.